Lloyds Energy Group LLC has submitted a formal application to export Liquefied Natural Gas (LNG) to countries with a Free Trade Agreement (FTA) with the US, creating a large number of jobs in the process.
Production involves extreme compression of natural gas, often methane, in order to improve the transportation process. The volume in a liquid state is 600 times less than in a gaseous form.
Exporting from their facility in Calhoun County, Texas, the project will be known as Point Comfort LNG and aims to significantly benefit the south central Texas coastal region, in part in the creation of around 700 direct, long-term jobs.
Lloyds Energy expects the project to also indirectly lead to thousands more jobs, as well as economic benefits and a predicted hundreds of millions of dollars in revenue.
“Lloyds Energy is strongly positioned to meet client demand, and submitting our Point Comfort LNG FTA application is an important first step towards making the final investment decision,” said Philip Holland, Lloyds Energy CEO. “The U.S. has an abundant supply of natural gas and the international market has a growing demand for cleaner, more-efficient fuel.”
The company hopes to expand further into new territories, and with a potential new deal between the US and UK on the cards, many more could start setting their sights on Britain within the coming year.